Ukraine launched long-range missile and drone attacks deep inside Russia, hitting a military factory in Cheboksary and oil refineries in Samara and Vladimir regions. President Zelenskyy declared a new 'Day of the Unmanned Systems Forces'. Meanwhile, Russia reported arrests in Moscow car bombings and continued attacks on Ukraine's Black Sea ports.
Middle East oil official states refining capacity lost 3 million barrels daily (2020-2023). Market also lost 14 million barrels daily from Middle East producers due to war on Iran, infrastructure attacks, and Strait of Hormuz closure.
Groq aims to raise $650 million from existing investors to expand its inference neocloud business, leveraging its AI chip and systems, following a $20 billion licensing deal with Nvidia.
Fuel prices in India have seen a fourth hike in 11 days, with cumulative increases nearing Rs 7.5 per litre. This follows a rise in global crude oil prices due to US-Israeli strikes on Iran, impacting refining margins and import costs. States face pressure to cut VAT as prices reach highest levels since May 2022.
Petrol and diesel prices in India saw another hike of 87-91 paise per litre on Saturday, bringing the total increase in less than 10 days to nearly Rs 5 per litre. This rise is attributed to increasing international crude oil prices and a weaker rupee.
China's oil and gas production increased by 1.3% and 2.7% respectively in January-April 2026. However, oil refining saw a 0.5% decrease. Russia remains China's top energy supplier, with oil imports down but LNG and Power of Siberia pipeline gas up.
China has launched its first domestically produced racing fuel, debuting at the China Taklimakan Rally. Developed by Sinopec Group and Zhenhai Refining & Chemical, it aims to end reliance on imports for high-level competitions, addressing issues of cost and supply chain instability.
Tian Yuandong, ex-Meta AI research director, co-founds Recursive Superintelligence, raising $650M at a $4.65B valuation to develop self-improving AI systems capable of autonomous code refinement and reasoning.
SEOUL, May 11 (Yonhap) -- S-Oil Corp., South Korea's third-largest refiner by sa...
Neeraj Chopra is nearing a comeback after a 232-day break focused on rehabilitation from groin, ankle and back injuries. The Olympic champion has been rebuilding fitness and refining technique ahead of the 2028 Los Angeles Olympics. Potential return events include meets in Poland, Finland and Czechia, while his main target remains defending his Asian Games title later this year.
Neeraj Chopra is nearing a comeback after a 232-day break focused on rehabilitation from groin, ankle and back injuries. The Olympic champion has been rebuilding fitness and refining technique ahead of the 2028 Los Angeles Olympics. Potential return events include meets in Poland, Finland and Czechia, while his main target remains defending his Asian Games title later this year.
Krunal Pandya reflects on his 11-season IPL journey, crediting adaptability, fitness and constant reinvention for his longevity and success with Royal Challengers Bengaluru. The left-arm spinner discusses refining his bowling for bounce and deception, embracing challenges, and staying driven by an ambition to return to India’s national team. Gratitude, resilience and evolution remain central to his career and mindset.
The vessel reached the shore in the Sodegaura area, where refining facilities of several Japanese companies are located
Brazilian President Luiz Inacio Lula da Silva told US President Donald Trump on Thursday that his country’s rare earth reserves are open to investment from China and any other nation willing to process the minerals on Brazilian soil, resisting pressure to side with Washington in its contest with Beijing over critical mineral supply chains. “We have no preference. What we want is to share with whoever wants to invest in Brazil,” Lula said at a press conference at the Brazilian embassy in...
According to Dubravka Djedovic-Handanovic, the issue is the future operation of the Pancevo refinery, crude oil refining capacity, and the mechanisms that will guarantee compliance with the agreements
Rolling coverage of the latest economic and financial newsClimate campaigners attack Shell over ‘windfall’ profits from Iran warDanny Gross, climate campaigner at Friends of the Earth, says Shell’s profits are ‘indefensible’, after the company doubled its quarterly earnings to $6.9bn this morning.Gross says:“Once again, fossil fuel giants are pocketing monstrous profits while drivers are being squeezed at the petrol pump and households are set to pay higher energy bills.“Our fossil fuel-reliant energy system siphons money away from ordinary people to the rich and powerful.“In the twenty-first century we have cheaper, cleaner alternatives that we can use to power Britain without anybody being bombed. We don’t need to let the fossil fuel industry hold us to ransom and pass on the costs of endless wars and limitless pollution.The cost of living crisis, the climate crisis, the middle-east crisis, these are all oil industry operating costs. We need to stop subsidising them, introduce new taxes to make them pay and start taxing their obscene profits properly.”Adjusted Earnings, compared with the fourth quarter 2025, reflected higher contributions from trading and optimisation mainly impacting our Downstream, Renewables and Energy Solutions businesses, higher realised prices, higher refining margins, lower operating expenses and higher Lubricants margins, partly offset by lower volumes.“While people around the world struggle with soaring energy costs, Shell is raking in billions in added profit. The same crisis that is driving these windfalls is pushing millions closer to hunger and hardship.“Governments must act now to tax these excess profits and use the money to protect vulnerable households and expand affordable, homegrown renewable energy. Continue reading...
"A raw, caged animal, drinking, partying and fighting" is how Jamie Vardy's agent described his client's early career, with the striker explaining how refining himself from non-league football to Premier League superstar status was "a killer".
The council specified that Finland’s air force conducted the Ilmataktiikka 26 exercise, with the stated goal of enhancing combat readiness and refining coordination between units
Observers say pressure on IMO negotiations appears to be linked to countries that have invested heavily in gasAbout a fifth of the world’s oil and liquefied natural gas (LNG) passed through the strait of Hormuz, a strip of sea less than 30 miles wide at its narrowest point, before it was in effect closed by the US-Israeli attack on Iran, which sent the price of oil soaring and left an estimated 20,000 seafarers on 2,000 vessels stranded.Their plight has shone a spotlight on the complex and dirty relationship between shipping and the fossil fuel industry. The sector is one of the most polluting, with most ship engines fuelled by what has been called the dregs of the oil refining process, heavy and carbon-intensive diesel too filthy for any other purpose. Shipping produces about 3% of global greenhouse gases, a portion set to rise as trade globalises further. Continue reading...
BP nearly doubled its profits to $3.2bn in Q1 2026, driven by surging oil and gas prices following the Iran war that began at the end of February. The oil major beat analyst expectations, with CEO Meg O'Neill acknowledging the "environment of conflict and complexity." Campaign group Global Witness criticized the profits, noting this is the second time in four years that geopolitical conflict has boosted oil company earnings, following Russia's 2022 invasion of Ukraine.
Refining companies indicate they have sufficient supplies for the next month, but prices no longer reflect the discounted levels seen in the years following the Ukraine conflict. At the same time, the volume of crude available in transit is shrinking quickly.
NavPrakriti announces plans to invest over Rs 100 crore to establish a critical minerals refining facility in Odisha. The plant will process 5,000 metric tonnes per annum of end-of-life batteries, recovering lithium, cobalt, and nickel to strengthen India's domestic supply chains and circular economy. Expected to be operational by FY 2028-29, the facility will create over 500 jobs.
